Freeport-McMoRan Trading Analysis (18/07/2024)

The trend is upward. The stock is trading in the range between 365 and 135 EMA. The down-sloping wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

• Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.
• Stop-loss at 48.30.
• Price targets at 50.92 and 51.90.

#freeportmcmoran #fcx #stock #tradersroom #daytradingpatterns #forexexpertadvisor